a house in Florida is priced at $155,000 the rent on a comparable houses $950 per month find the price to rent ratio

Mathematics

1 answer:

zysi [14]2 years ago

8 0

Answer:

The price to rent ratio calculated is 13.6.

Explanation:

As per the stated question,

the house in florida was priced at $155,000 and

the rent that was comparable houses was $950 per month.

The house rent for a year can be calculated as 950 x 12 = 11400

Henceforth, the formulae for price to rent ratio was given as

$\text { rent ratio }=\frac{\text { median home price }}{\text { median home rent }}$

= $\frac{155000}{950 \times 12}=\frac{155000}{11400}=13.6$

therefore the price to rent ratio is 13.6

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